News(ish) #5: Rob Petrozzo, CPO @ Rally - Alternative Assets and the Rally Series B
Fintech News with Lindsay and Zach
Hello Fintech Fam,
We’re back with more news and another special guest! Rob Petrozzo, Chief Product Officer at Rally, joined Lindsay (Head of Markets @ Atomic) and I to breakdown the Rally Series B and the future of alternative assets.
Borrowing from Lindsay’s write up, here are some key facts:
$30 million Series B funding led by Accel, with participation from existing investors Upfront Ventures, Social Leverage, and others. Additionally, Rally has secured a $50 million debt facility from Upper90 Capital to allow the company to efficiently offer one-of-a-kind assets across all categories.
Everything is an asset
2021 is being acclaimed by investors as the year of alternative investment, though Rally launched its first asset in 2016. The surge in crypto-backed collectibles via NFTs has also created noise in the market. Quoting investor Howard Lindzon, the firm’s challenge is not the noise it’s filter failure.
To stay laser-focused on its mission, Rally’s core pillars for prioritizing the product roadmap include:
More asset classes
More liquidity in the secondary markets
Unlocking more liquidity from supply
The road ahead? Remaining focused on the user journey
Rally takes the investment experience to a new level by bringing exotic asset classes to life in a storefront in SoHo, New York. As part of the Series B, the company will be adding ten new store fronts across the US and is currently considering Los Angeles, California, Florida, and other places the company has a high concentration of investors.
Rob also revealed the firm’s ambitious plans for NFTs and how retail investors can invest digitally in America.
No matter what asset class Rally tackles next, staying focused on the user journey will remain the top priority.
Stay tuned to Atomic Insights to dig deeper into the news and the future of Payroll APIs 🚀
Until next time Fintech Fam,
Zach Anderson Pettet